Moscow, Russia – October 7, 2008 – Sistema (LSE: SSA), the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector, today announced the launch of movie and TV production at Russian World Studio (RWS) in St Petersburg.

RWS is a subsidiary of Sistema and one of the leading Russian film and TV production companies.

The construction of the first phase of movie production facilities in St Petersburg was completed in July 2008 with a total investment of US$ 100 million. The total production studio space encompasses 11,000 square metres, including 6 shooting stages, Dolby Premier dubbing suite, 8 video editing suites, 3 sound editing suites, 2 dubbing suites and a rerecording suite. Sistema plans to build the largest shooting stage in Europe with 2,000 square metres of space, including full service production facilities for movies and TV programmes. 

The production studio currently has an annual capacity to shoot 20 projects, including up to 7 movies and TV series simultaneously. RWS has presently in production 3 movies as well as programmes for 5 channels of Stream-TV.